RxSight (NASDAQ:RXST) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of RxSight (NASDAQ:RXST) from a sell rating to a hold rating in a report released on Saturday morning.

RXST has been the subject of a number of other reports. Bank of America decreased their price objective on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Wells Fargo & Company reduced their target price on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. UBS Group increased their price target on shares of RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a report on Tuesday, July 7th. Finally, Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $8.59.

RxSight Stock Up 3.0%

Shares of RXST stock opened at $6.26 on Friday. The firm has a market cap of $259.16 million, a price-to-earnings ratio of -5.54 and a beta of 1.13. RxSight has a 52-week low of $4.48 and a 52-week high of $13.22. The company’s 50 day moving average is $5.31 and its 200 day moving average is $6.64.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The company had revenue of $33.74 million during the quarter, compared to analyst estimates of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Analysts anticipate that RxSight will post -1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently added to or reduced their stakes in RXST. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of RxSight by 761.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock valued at $6,969,000 after acquiring an additional 1,000,000 shares in the last quarter. Walleye Capital LLC increased its stake in RxSight by 258.6% during the 1st quarter. Walleye Capital LLC now owns 314,616 shares of the company’s stock valued at $1,938,000 after purchasing an additional 226,871 shares in the last quarter. ADAR1 Capital Management LLC increased its stake in RxSight by 98.4% during the 1st quarter. ADAR1 Capital Management LLC now owns 43,250 shares of the company’s stock valued at $266,000 after purchasing an additional 21,447 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of RxSight in the first quarter worth $30,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of RxSight by 27.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,848 shares of the company’s stock worth $248,000 after buying an additional 5,203 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.